Thibeault Development completes another $50m sale of former Everett salvage yard site to Greystar : NEREJ
Everett, MA William Thibeault of Thibeault Development sold 6 acres of land formerly known as Siegel’s Auto Salvage Facility and Edel Brown Machinery for $ 50 million. Properties at 119 and 85 Boston St. were sold along with 650 fully approved housing permits. Greystar has acquired the project and plans to build two residential buildings with 650 residential units, 785 parking spaces, 19,000 m² of usable space and 9,000 m² of retail space.
Thibeault bought the former scrapyard property in 1999 and, with the support of his longtime environmental attorney Richard (Chip) Nylen and licensing attorney Anthony Rossi, renovated the polluted site to enable the currently approved residential development. From 2001 until the time of the sale, one of the other Thibeault companies, Wood Waste of Boston, Inc., operated one of the largest private recycling plants for construction and demolition rubble there.
Former Everett Junkyard before development
All real estate before redevelopment and development
This location is just one of many in the area where Thibeault has been addressing contamination issues to clear the way for residential and retail use development. His environmental work and development have all but changed the gateway to Everett and Chelsea. Where you once saw nothing but the thousands and thousands of junk cars, dilapidated buildings, heaps of rubble, and wasteland that drove down Revere Beach Parkway to Everett and Chelsea, you are now seeing thousands of new residential and retail homes, transforming the area from a dilapidated area to a modern neighborhood.
Thibeault said he first began developing the area when he bought a disused construction yard at 141 Boston St. and the adjoining property at 1690 Revere Beach Pkwy in the early 1990s, where he approved and continues to shop and shop all plots in. bought the area that he could. He continued, “The area is so close to Boston, one exit from Tobin Bridge, I knew these properties would one day appreciate significantly. I bought all the packages I could, regardless of condition or environmental issue. I had my own demolition and environmental company and was able to solve most of the problems in the house. I’ve acquired nearly 25 acres over the years, all of which were former junkyards and brownfield-type lots. Together with the support and cooperation of the Mass. Department of Environmental Protection of the NE Region, Commissioner Mark Suuberg, Local Mayor Carlo DeMaria, City Manager of Chelsea, Jay Ash, and the city authorities, we were able to redevelop these sites and clear the way for future redevelopment. Jay Ash was instrumental in developing 700 units in Chelsea at the former Borrs Auto Salvage and Chelsea Clock scrapyard. “
Property owned and developed by Thibeault Development
The city of Everett, Chelsea and DEP all helped make this devastated area what it is today and will continue to do so with this 650 unit project. They are working on other plots in the area that are being cleared for redevelopment.
Thibeault continues to look for potential land for development, buildings in need of renovation, or real estate that he can add value as well. He recently bought the former Steinway Building on Boylston St. in Boston and plans to convert it into residential and retail buildings. He is also under contract to Santander Bank on Main St. in Wakefield.
The project team includes:
Thibeault Development – Developer
Attorney Richard Nylen – Regulatory
Anthony Rossi Esq. – Permission
Jai Singh Khalsa – architect
Engineering Alliance, Inc. – Engineer